Thursday, October 18, 2012

Empire Avenue: Week 1 - It Really is Social Media Rocket Fuel!

In my previous few blog posts I've been talking about my experience with www.EmpireAvenue.com . In effort to record and indeed share the experience I've created this post!

EAv (Empire Avenue) is part game, part social media, part marketing tool, bear with me and Ill try to explain as much as I know as simply as possible.

The Game

The game is based around a stock market idea but the stock is you - or in fact all the users signed up. Using a digital currency (Eaves) you get to buy or sell shares in whomever you choose. Each user gets "paid" in eaves each day depending on your social media interaction that day. The more social you are the more you earn. As shares are bought and sold and users' activity gets logged their share price moves up or down depending on how well they've done. When you own stock in someone else you'll also receive a dividend dependant upon their performance. Your stocks are held in a portfolio where you can track, watch and filter searching for sliders or gainers to buy and sell more shares in.

The Social Media

For the game to work like a real stock market you need a very large very active user base to keep things interesting. Fortunately EAv is bursting to the seams with all manner of social media fanatics - I was astounded at how active the user base was! For such a new system (only two years old) it seems to contain a huge number of heavy hitting social media, marketing, digital, entrepreneurial users who've all mastered klout and kredz and have clearly moved on. I've seen an extra 100 followers on Twitter and double the number of blog visits I get in just this one week. If you want the pulse of social media and marketing look here first and follow these people heavily.

The Marketing

OK so once you get to grips with the game, have a portfolio, followed/linked/friended/subscribed your shareholders and the people in whom you've bought shares its time to sit back, take a breather and look at missions. Once your share price hits 30 (day 2 or 3 if you're social) the ability to create Missions is unlocked. Missions allow you to "pay" users to undertake certain actions. Generally this centres around some form of social media action such as liking a page, retweeting a tweet or something of that nature. This is genius, for one thing, its easy and free (although you can pay real money for virtual eaves should you wish).

Getting social media interaction going on this basis with this user base creates a very positive feedback loop, it generates social media actions from the EAv community which in turn creates more eaves which helps share prices rise which increases dividend and portfolio value. Because this is social media Klout and Kredz will take notice and the halo effect will raise you scores there too - you become more influential. All of this makes you more visible, followable and likeable. And so this awesome whirlwind of interaction and payback unfold beautifully before you in real time.

Summary

I've thoroughly enjoyed my first week on EAv; I've learned a lot and got some awesome followers and followees on Twitter and seen my Klout score rise 3 points. Don't be shy have a go, get to grips with it and enjoy the ride!

If you enjoyed this blog post please use the side menu to share it, subscribe, like it and follow me on Twitter, buy some shares in me - and leave a comment! I'd be very much obliged! ;o)
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